Oil Futures Extend Gains on U.S. Demand, Russia Tensions

TODAY: July 22, 2014 PUB DATE: July 22, 2014

By Eric Yep Crude-oil futures extended overnight gains in Asian trading hours Tuesday on indications of stronger U.S. oil demand and as European Union officials mull tighter sanctions against Russia. On the New York Mercantile Exchange, light, sweet crude futures ...

China Opens Door to New Zealand's a2 Milk Company

TODAY: July 22, 2014 PUB DATE: July 22, 2014

WELLINGTON, New Zealand--New Zealand dairy firms are gradually being allowed to sell baby formula in China again following a clampdown that saw hundreds of brands shut out of the market earlier this year. a2 Milk Company Ltd., which specializes in ...

China PBOC Skips Open Market Operations

TODAY: July 22, 2014 PUB DATE: July 22, 2014

SHANGHAI--China's central bank skipped Tuesday's open-market operations, likely to keep a cap on liquidity in anticipation of several initial public offering launches, participating traders said. The central bank injected a net 17 billion yuan ($2.7 billion) in last week's operation, ...

Yen Weakens Against Rivals as Geopolitical Concerns Recede

TODAY: July 22, 2014 PUB DATE: July 22, 2014

By Hiroyuki Kachi The yen weakened against its rivals in otherwise directionless Asian trade Tuesday, with investors taking a breather from geopolitical developments in eastern Ukraine and Gaza, and instead returning their focus to economic indicators coming out this week. ...

China Opens Door to New Zealand's a2 Milk Company

TODAY: July 22, 2014 PUB DATE: July 22, 2014

By Rebecca Howard WELLINGTON, New Zealand--New Zealand dairy firms are gradually being allowed to sell baby formula in China again following a clampdown that saw hundreds of brands shut out of the market earlier this year. a2 Milk Company Ltd., ...

Australia's Stevens Doesn't Rule Out Another Interest-Rate Cut

TODAY: July 22, 2014 PUB DATE: July 22, 2014

By James Glynn and David Rogers SYDNEY--Reserve Bank of Australia Gov. Glenn Stevens on Tuesday appeared to leave open the possibility of further interest-rate cuts, but said the current record-low rate was appropriate for now. During an appearance before a ...

Australia Central Bank Says Impossible to Say yet if QE a Success

TODAY: July 22, 2014 PUB DATE: July 22, 2014

SYDNEY--After years of unconventional policy making by central banks to deal with the aftermath of the global financial crisis, monetary policy is now unlikely to be used again to boost the economy of any country, Reserve Bank of Australia Governor ...

Japan Cuts Growth Forecast

TODAY: July 22, 2014 PUB DATE: July 22, 2014

TOKYO--An advisory panel to Prime Minister Shinzo Abe on Tuesday called on the government to stick to its policy of steadily reducing its new debt issuance. The Council on Economic and Fiscal Policy called on Mr. Abe's government to keep ...

Mitsubishi to Build Gasoil Import Terminal in Australia

TODAY: July 22, 2014 PUB DATE: July 22, 2014

TOKYO--Mitsubishi Corp. (8058.TO) said Tuesday it and partner Coogee Chemicals will invest A$110 million to build a gasoil import terminal in Whyalla, South Australia. In Australia, mining-related gasoil use has fallen sharply as several mines and port projects were halted ...

Swiss June Exports Steady on Demand For Chemicals, Watches

TODAY: July 22, 2014 PUB DATE: July 22, 2014

By Neil MacLucas ZURICH--Steady demand for Switzerland's pharmaceutical and chemical goods from Asia supported modest export growth in June. Exports in June rose 2.2% year over year in real terms adjusted for inflation to 16.9 billion Swiss francs ($18.8 billion), ...

IMF More Upbeat About Germany's Economy

TODAY: July 22, 2014 PUB DATE: July 21, 2014

BERLIN--The German economy will probably expand more this year than previously forecast due to strong domestic demand and low unemployment, the International Monetary Fund said Monday, warning however that an escalation of tensions between the West and Moscow could severely ...

Swiss National Bank, China Agree Currency-Swap Deal--Update

TODAY: July 22, 2014 PUB DATE: July 21, 2014

By Neil MacLucas and Chiara Albanese ZURICH--The Swiss National Bank and the People's Bank of China have agreed to set up a currency swap line designed to boost trade and investment flows between the two countries and help to make ...

Oil Futures Steady With Focus on Libya, Ukraine

TODAY: July 22, 2014 PUB DATE: July 21, 2014

By Nicole Friedman NEW YORK--Oil prices traded near flat Monday after Libya announced a resumption in exports from its largest oil field but unsteady production levels. Brent crude on ICE Futures Europe, the global benchmark, recently traded down 3 cents ...

U.K.'s Serious Fraud Office Probes Possible Forex Rigging

TODAY: July 22, 2014 PUB DATE: July 21, 2014

The U.K.'s Serious Fraud Office is gathering information about possible rigging of the foreign exchange market, the latest sign of the seriousness of the global probe into currencies trading. "We are receiving and examining complex data on this topic," a ...

Swiss, Chinese Enter Currency Swap Agreement

TODAY: July 22, 2014 PUB DATE: July 21, 2014

ZURICH--The Swiss National Bank and the People's Bank of China reached a currency swap agreement on Monday, allowing the two central banks to buy and sell their currencies up to a limit of 150 billion renminbi, or 21 billion Swiss ...